25 February, 2016
The Singapore International Arbitration Centre (SIAC) have announce the official release of its 2015 Annual Report at the SIAC Annual Appreciation Event this evening.
2015 was a milestone year for SIAC. SIAC recorded the highest ever number of cases filed, highest ever number of administered cases and highest ever total sum in dispute in the history of SIAC, which commenced operations in 1991. SIAC’s case filings have increased by over 300% in the last ten years.
In 2015, SIAC received 271 new cases from parties from 55 jurisdictions. This was a 22% increase from the 222 new cases filed in 2014 and an increase of nearly 5% from the previous record of 259 new cases filed in 2013. 2015 also saw the highest ever number of administered cases – 244 – at SIAC.
Another new record was set in 2015 for the total sum in dispute, which amounted to S$6.23 billion, an increase of 24% from S$5.04 billion in 2014 and 3% from S$6.06 billion in 2013. The highest claim amount was S$2.03 billion.
Ms Lim Seok Hui, CEO of SIAC, commented on the release of the 2015 case statistics: “We are very pleased with SIAC’s strong performance in 2015. SIAC’s administered caseload has grown steadily over the years, and reflects user confidence globally in the quality and efficiency of the case management services provided by the SIAC Secretariat working closely with the SIAC Court of Arbitration.”
